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The Rise of the Attention Economy

To commemorate its founding 25 years ago, PS is republishing a selection of commentaries written since 1994. In 2012, Esther Dyson said the human desire for virtual immortality would have profound economic and psychological implications.

MOSCOW – I was recently posed the following question: “The most important way in which the Internet and online social media are changing our world is [fill in the blank].” My standard answer is that it changes the balance of power between individuals and institutions. But this was a sophisticated audience of economists and students, gathered for the 20th anniversary of Moscow’s New Economic School. I needed new material.

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